The fact that MLSE lawyers got involved in this tells me that this was not the most kosher deal to begin with. From the sounds of it there was negotiating going on about what was considered fair interest. This matter was not just left alone.

Who gives these sorts of loans? I know a bank does not. I don't know any branch where you can tell them you are a collegiate athlete and your collateral is making it pro one day to pay it back.

8% interest is not crippling, not a great rate in these times, but its also not a knee cap rate. Only one side of the story has been heard so far, sometimes these athletes in their immaturity have no idea what deals they are signing. Maybe the terms were presented to Weems in a different light. Without the other side of the story I don't want to be too quick to pass judgment. Lots of gifts in this world come with strings attached... sometimes the gift bearers hide the string.

I think that this type of story is all too common in the world of college / professional sports. Weems' behaviour here was foolish. However, he is not the first young person to default on a debt, and not the first to take no action to resolve the situation. A lot of these guys have leases on homes, cars, even stuff like jewelry. So much money coming in every month, and nearly as much being spent also. If Sonny had someone competent managing his finances this never would have gone so far.

The fact that MLSE lawyers got involved in this tells me that this was not the most kosher deal to begin with. From the sounds of it there was negotiating going on about what was considered fair interest. This matter was not just left alone.

I think you're jumping to the wrong conclusion. A default judgement doesn't mean Wright could say Weems owed any amount he wanted. Do note that even with Weems not present at the adjudication, the court still decided in favor of Wright at an amount lower than was asked ($26,000 instead of $35,000). This amount was considered lawful, and a court order was issued to MLSE to garnish Weems' wages. It then sounds like Wright tried to get more from MLSE than what was covered in the court order, which is where MLSE balked. Considering how long the loan repayment took, the earlier $26,000 figure seems barely enough to cover full repayment of the $23,500 loan plus a one year plus of interest (court order was after Weems joined the Raptors, so Fall 2009 at the earliest), let alone legal fees, which was later awarded. Your "not kosher" argument would best apply at the very beginning of the ordeal, and not after the amount in question had already gone through two court hearings.

MyMomLovesMe wrote:

Who gives these sorts of loans? I know a bank does not. I don't know any branch where you can tell them you are a collegiate athlete and your collateral is making it pro one day to pay it back.

8% interest is not crippling, not a great rate in these times, but its also not a knee cap rate. Only one side of the story has been heard so far, sometimes these athletes in their immaturity have no idea what deals they are signing. Maybe the terms were presented to Weems in a different light. Without the other side of the story I don't want to be too quick to pass judgment. Lots of gifts in this world come with strings attached... sometimes the gift bearers hide the string.

8% at the time the loan was granted was not a bad deal at all. My educational loans three years back was running at 8.5% interest. If Weems felt any part of the loan was unfair, he had chance after chance after chance to present his side. It hardly matters what sad story challenges Weems was facing if he doesn't care to defend himself. Heck, even though you're not Weems, you're putting up more of a fight than he did. =P As before, whatever foul carrot strings you want to speculate into the story, they don't attach to the court order. The $26,000 court judgement was pretty damn fair and he still forced MLSE to garnish his wages to obtain the amount.

"We only have one rule on this team. What is that rule? E.L.E. That's right's, E.L.E, and what does E.L.E. stand for? EVERYBODY LOVE EVERYBODY. Right there up on the wall, because this isn't just a basketball team, this is a lifestyle. ~ Jackie Moon

Considering it was a judgment of 30K, it may not have been worth Weem's time to fly down from where he was, pay a lawyer and contest a judgment that he knows he has little chance to contest. (It would add to the overall bill)

His no show, to me means he does not dispute the charges. I still don't understand why people are so worked up over this, so he needs financial advise, many players do.

Considering it was a judgment of 30K, it may not have been worth Weem's time to fly down from where he was, pay a lawyer and contest a judgment that he knows he has little chance to contest. (It would add to the overall bill)

His no show, to me means he does not dispute the charges. I still don't understand why people are so worked up over this, so he needs financial advise, many players do.

I just want to point out one last time that your entire argument is speculation. First you speculate that perhaps he was facing financial hardship and couldn't pay up. Then you speculate that the amount was chump change to him. There's no point in arguing such speculation unless your point is to get someone else to stop speculating (which I don't think I am, as I'm going by what was reported to have happened). =P

At the same time, this last bit is probably your best argument so far. It's not abnormal for someone to not contest a lawsuit and simply allow a default judgement to be rendered against him. This happens usually when the defendant doesn't see a point in contesting the suit; either the difference is not worth the time or he knows he has no defense. But if this is the case, then we go back to point #1: he reneged on his loan repayment, which doesn't reflect well on his credibility.

I'm not "worked up", as you say; my point was only that when you're already wondering if a player will "figure it out" and take full advantage of his talent/abilities, this kind of immaturity doesn't leave much confidence. Had this been an issue BEFORE he was drafted, you can be sure it would have come up in the discussion of his prospects (not that it would really matter since he was already a 2nd rounder).